UD08.L vs. ROLL.L
UD08.L (UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (hedged to GBP) A-acc) and ROLL.L (iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF) are both Commodities funds - UD08.L tracks the UBS CMCI Ex-Agriculture Ex-Livestock Capped (GBP Hedged) while ROLL.L tracks the iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF. Both are passively managed. Over the past 5 years, UD08.L returned 10.55%/yr vs 12.89%/yr for ROLL.L. A 0.63 correlation means they provide meaningful diversification when combined. UD08.L charges 0.34%/yr vs 0.28%/yr for ROLL.L.
Performance
UD08.L vs. ROLL.L - Performance Comparison
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Different Trading Currencies
UD08.L is traded in GBp, while ROLL.L is traded in USD. To make them comparable, the ROLL.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, UD08.L achieves a 16.20% return, which is significantly lower than ROLL.L's 22.67% return.
UD08.L
- 1D
- 1.00%
- 1M
- -5.10%
- 6M
- 10.06%
- YTD
- 16.20%
- 1Y
- 28.26%
- 3Y*
- 13.45%
- 5Y*
- 10.55%
- 10Y*
- —
ROLL.L
- 1D
- 0.00%
- 1M
- 0.35%
- 6M
- 15.72%
- YTD
- 22.67%
- 1Y
- 32.79%
- 3Y*
- 13.10%
- 5Y*
- 12.89%
- 10Y*
- —
UD08.L vs. ROLL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
UD08.L UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (hedged to GBP) A-acc | 16.20% | 18.86% | 6.39% | -6.29% | 12.33% | 33.73% | -3.77% | 7.94% | -15.22% |
ROLL.L iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF | 22.67% | 8.61% | 6.51% | -7.11% | 30.54% | 28.89% | -2.13% | 1.26% | -9.77% |
Correlation
The correlation between UD08.L and ROLL.L is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2018 | 0.63 |
The correlation between UD08.L and ROLL.L has been stable across timeframes, ranging from 0.63 to 0.72 - a consistent structural relationship.
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Return for Risk
UD08.L vs. ROLL.L — Risk / Return Rank
UD08.L
ROLL.L
UD08.L vs. ROLL.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (hedged to GBP) A-acc (UD08.L) and iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF (ROLL.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| UD08.L | ROLL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.34 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.45 | 2.73 | -0.27 |
| Martin ratioReturn relative to average drawdown | 8.77 | 8.93 | -0.16 |
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Drawdowns
UD08.L vs. ROLL.L - Drawdown Comparison
The maximum UD08.L drawdown since its inception was -40.62%, which is greater than ROLL.L's maximum drawdown of -23.20%. Use the drawdown chart below to compare losses from any high point for UD08.L and ROLL.L.
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Drawdown Indicators
| UD08.L | ROLL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.62% | -23.20% | -17.42% |
Max Drawdown (1Y)Largest decline over 1 year | -11.15% | -12.10% | +0.95% |
Max Drawdown (3Y)Largest decline over 3 years | -13.21% | -13.37% | +0.16% |
Max Drawdown (5Y)Largest decline over 5 years | -24.66% | -20.56% | -4.10% |
Current DrawdownCurrent decline from peak | -8.13% | -8.08% | -0.05% |
Average DrawdownAverage peak-to-trough decline | -12.21% | -9.49% | -2.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.12% | 3.70% | -0.58% |
Volatility
UD08.L vs. ROLL.L - Volatility Comparison
UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (hedged to GBP) A-acc (UD08.L) has a higher volatility of 5.49% compared to iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF (ROLL.L) at 4.16%. This indicates that UD08.L's price experiences larger fluctuations and is considered to be riskier than ROLL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UD08.L | ROLL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.49% | 4.16% | +1.33% |
Volatility (6M)Calculated over the trailing 6-month period | 12.11% | 15.01% | -2.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.63% | 17.18% | -2.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.23% | 16.41% | +0.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.12% | 15.42% | +1.70% |
UD08.L vs. ROLL.L - Expense Ratio Comparison
UD08.L has a 0.34% expense ratio, which is higher than ROLL.L's 0.28% expense ratio.
Dividends
UD08.L vs. ROLL.L - Dividend Comparison
Neither UD08.L nor ROLL.L has paid dividends to shareholders.
Frequently Asked Questions
UD08.L and ROLL.L have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ROLL.L is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ROLL.L is cheaper with a 0.28% expense ratio, compared with 0.34% for UD08.L.
UD08.L tracks UBS CMCI Ex-Agriculture Ex-Livestock Capped (GBP Hedged), while ROLL.L tracks iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF. They also come from different issuers: UBS and iShares. Their fees differ too: 0.34% for UD08.L and 0.28% for ROLL.L.
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